LONDON (Reuters) - The number of new corporate defaults globally reached 16 in August, the highest August monthly number since 2009, S&P said in a ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSLONDON - The number of new corporate defaults globally reached 16 in August, the highest August monthly number since 2009, S&P said in a report released on Wednesday, the latest sign that corporate stress is building.
This brought the global corporate default tally to 107, with most of the defaults coming from Europe and the United States. Default rates are expected to hit 4.5% in the United States by June 2024 from 3.5% in July 2023, and to increase to 3.75% in Europe by June 2024 from 3.1% in July 2023, the report added.
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Corporate defaults jump, highest August monthly tally since 2009The number of new corporate defaults globally reached 16 in August, the highest August monthly number since 2009, S&P said in a report released on Wednesday, the latest sign that corporate stress is building. This brought the global corporate default tally to 107, with most of the defaults coming from Europe and the United States. The rating agency expects default rates to keep rising as aggressive rate hikes take their toll on companies faced with an increased cost of funding and looming debt maturities.
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